Hyderabad: Representatives of six big pharma companies like MSN Laboratory, Laurus Labs and Aurobindo Pharma held talks with Telangana chief minister Revanth Reddy and promised to invest Rs 5,260 crore in the state and to create 12,490 jobs. Reddy also directed officials concerned to allocate land to he pharma companies to take up construction work in the next 4 months.
During the meeting with the Telangana chief minister and industries minister D Sridhar Babu, the pharma company representatives came forward and entered in memorandums of understanding (MoU) with the Telangana government to expand their operations and also establish pollution free green pharma companies. Revanth Reddy also asked officials provide required facilities in the Pharma City.
According to a press release, representatives of MSN Group, Laurus Labs, Gland Pharma, Dr. Reddy’s Laboratories, Aurobindo Pharma, and Hetero Labs, net TSIIC Chairperson Nirmala Jagga Reddy, special secretary to the CM Ajith Reddy, special chief secretary to the Industries department Jayesh Ranjan and Vishnuvardhan Reddy participated in the meeting.
“The pharma company managements signed MoUs to establish the industries. The six companies expressed their interest to invest more than Rs. 5260 crores. The investments will provide 12,490 job opportunities in the pharma sector. Government will allocate land for the establishment of the new pharma manufacturing units in the recognised pharma city,” stated the release.
According to the MoUs, MSN Laboratory will set up a manufacturing unit along with an R&D center. Laurus Labs and Aurobindo Pharma will establish formulation units, while Gland Pharma said it is ready to open an R&D center, injectables, and drug substance manufacturing units. “Dr. Reddy’s Labs will establish an injectable and biosimilars unit. Hetero Labs will set up a finished dose and injectable manufacturing plant,” added the release.
